The recent market activity has been dominated by volatility. We had 11 out of 14 days where we have had more than a 150 point move in the Dow Jones Industrial average. In spite of all of this volatility, and the wild day we saw last Thursday, we have stayed within the technical ranges of [...]
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Yesterday’s decimation of the market [and clearly that’s what it was] calls into question the near term direction of the stock market. What the market does next is anybody’s guess. Clearly though, yesterday’s drop has to be respected. Most technical charts have rolled over dramatically and will unfortunately require time and base building to reset. We [...] |
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For Informational Purposes Only. Copyright © 2010 Granite's Edge - All Rights Reserved
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A Note to Portfolio Managers
Structural headwinds caused by deficit/debt problems will continue to trump cyclical tailwinds of solid US growth and earnings/revenue improvement for a while. I wonder if this is like the 12 step process in AA: first you have to admit you have a problem. All countries are in the process of admitting their addiction to debt. [...]